Advance tax head

what is advance tax ledger head

capital or current assets??
Replies (6)
Quick Summary
This discussion clarifies the correct classification for the advance tax ledger head. Experts confirm that advance tax should be treated as a current asset. Specifically, it falls under the 'Balance with revenue authorities' category within current assets, especially considering new accounting schedules.

Current asset
Current Assets
Current asset under the new schedule.
Thanks all expert
"Balance with revenue authorities" under current assets
Your welcome

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